We've heard that Nvidia will, just as ATI, go for 40nm process. IT looks that TSMC wants to go from 55nm to 40 and they simply won't bother with the 45nm process for graphics.
Nvidia was late with transition to both 65nm and 55nm, as it got conservative and cautious since the NV30 debacle, and it looks that this 5-year old incident is still haunting Nvidia.
Nvidia wants to embrace 40nm in 2009 just as bad as ATI, and next year might be the first in history when we might have a smaller transistor on a GPU than we have one on a CPU.
Nvidia’s 40nm GPUs are in the design phase and they should be ready for launch next year. 40nm naturally means higher clock for chips, more shaders and features, smaller die and lower TDP.